Finding an Accountant for Your Home Based Business
By Stefani Padilla
There are many things to do as a new home based business owner, but if you do not have
a trustworthy accountant already, you should start looking. Sure you could do it yourself,
but unless you are an accountant, your time would be best spent doing what you do best (as
in your business) and letting an expert handle your finances.
One of the many reasons most home business owners struggle to handle their own accounting
is the fear of trusting their finances and personal information to a stranger. That is
certainly an understandable reason to hesitate however there are measures you can take
to hire an accountant you can trust for your business.
• Determine what you need an accountant to do. Do you need them to
handle payables and receivables or are you more concerned about quarterly tax filings?
Are you looking for someone to compile financial statements on a regular basis or to simply
perform the task once in order to apply for a business loan or to present to investors?
An accountant can help you find the best ways to take advantage of the tax breaks available
for home business owners. Define what you need an accountant to do before you set out to
find one you can trust.
• Ask for referrals. One of the best ways to find any kind of provider whether it is a
ghostwriter, attorney or an accountant is to ask people you know and trust for referrals,
especially other home business owners. The presumption being, of course, that the
accountant has an established history working with people you know and trust and is
therefore trustworthy for your business needs too.
• Schedule an appointment. You don't have to pick the first accountant you call.
Interview them like you would any employee. This is the person who you will be trusting
with your financial information, you need to be sure you have common values, and a common
goal for your business. You won't necessarily become best friends, however, there has to
be a certain level of respect and friendship in order to establish a good business relationship.
Make sure you have your list of the tasks or responsibilities you need an accountant
to handle on your appointment. In some cases, the appointment does not have to be face
to face and in our virtual world it is often possible to have a virtual meeting,
however you make the time, make sure that in some way you do visit with a potential
accountant before you make your decision.
• Ask questions. In addition to making sure they're ready, willing, and able to take
you on as a client, make sure they have experience with your sized business, the tasks you
need accomplished, and that they have the time available in their schedule to be
responsive to your needs. It is important to find an accountant who is more than just
trustworthy, but who also is not too busy to return your calls.
• Recommendations. Ask your potential account who they've done business with and if you
have questions about them don't be afraid to also ask for recommendations or people you
can contact to make sure this is the right accountant for you. Once you have the
recommendations, do not be afraid to contact them.
• Establish a system of how communication and documentation are going to work. If you
set this up ahead of time you will know when to anticipate a call back from your
accountant or when you need to have your paperwork together for your quarterly returns.
Having these guidelines set out ahead of times will help to ensure a successful
relationship.
Article by Stefani Padilla, author, entrepreneur, home based business owner, wife and
mom. Stefani has over 20 years experience and education in business and working from home.
To learn more about how you too can succeed in owning your own home based business, please
visit Business4moms.com
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